Sitka Gold intersects visible gold in first hole at RC project, Yukon
Sitka Gold Corp. [TSXV-SIG; FSE-1RF; OTCQB-SITKF] reported that it has intercepted visible gold in its first 2024 winter diamond drill hole (DDRCCC-24-57 or Hole 57) at its flagship RC Gold Project in Yukon’s prolific Tombstone Gold Belt.
Hole 057 was drilled to a depth of 550.2 m and was a step-out to the west from hole DDRCCC-23-047 which was the highest grade intersection at the project to date at the current southern extent of the Blackjack zone returning 219.0 metres of 1.34 g/t gold, including 124.8 metres of 2.01 g/t gold and 55.0 metres of 3.11 g/t gold. Hole DDRCCC-24-058 (Hole 058) is collared approximately 70 metres north of Hole 57 and is currently underway with a dip of -60 degrees and an azimuth of 60 degrees. Hole 57 is currently being logged and cut in preparation for delivery to the assay lab.
“Observations of visible gold in the first completed drill hole of our ongoing winter diamond drilling campaign at RC Gold are very exciting and confirm that gold mineralization remains persistent in this area,” said Cor Coe, Director and CEO. “This initial step out from Hole 47, which was our best drill hole on the Project to date, demonstrates the real potential to expand higher grade gold mineralization to the south and southeast of the current Blackjack deposit, which is still open in all directions. Winter drilling continues at RC Gold while we eagerly await the assay results from Hole 57.”
The RC Gold Project consists of a 386 km2 contiguous district-scale land package located in the heart of Yukon’s Tombstone Gold Belt. The project is located approximately 100 km east of Dawson City with a 5,000-foot paved runway and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate two-hour drive from Dawson. It is the largest consolidated land package strategically positioned mid-way between Victoria Gold’s Eagle Gold Mine – Yukon’ s newest gold mine which reached commercial production in the summer of 2020 – and Victoria Gold’s former producing Brewery Creek Gold Mine.
To date, 55 diamond drill holes have been drilled into this system for a total of approximately 19,427 metres including 16 drill holes totalling 6,515 metres completed in 2023 focused on expanding the initial resource.
Exploration on the property has mainly focused on identifying an intrusion-related gold system. The property is part of the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska.
Sitka Gold is well-funded with approximately $7 million in the treasury. Sitka is currently exploring its flagship RC Gold Project within the Tombstone Gold Belt in the Yukon Territory. The company is advancing the Alpha Gold Project in Nevada and has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.